DUBAI

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Tuesday, September 11, 2012

Dubai multi and Commodities Centre

Dubai Multi and
commodities centre (DMCC) offers investors a world-class hub for trading in
gold, precious metal, diamonds and colored stones as well as other commodities.

The DMCC has been
created as a part of the strategic goal of the government of Dubai to
establish a commodity marketplace in Dubai.

DMCC was launched in
April 2002.DMCC provides the facilities That bring together the gold trade, the
diamond trade The trade in other selected commodities. The centre aims to
attract key players through out the entire value chain of each of the industry
sectors, together with relevant support industries such as finance, logistic
and insurance.

DMCC’s300 hectare development
will include three industry-specific commercial towers, several gold refineries
and jewelries manufacturing complex.

Location

DMCC’s process –built
development is situated in the heart of new Dubai on sheikh zayed
road ,and is surrounded by Dubai newest project included the
palm, Dubai internet city and the Dubai marina.
Strategically located in close proximity to the major port of the jebel ali and
in easy reach of Dubaiinternational airport, The centre lies between the
fifth and sixth interchange on sheikh zayed road

DMCC is
ideally situated to service and access markets that span the middle
East, Northern and southern Africa, South Asia and commonwealth of
independent states(CIS)

DMCC offers its member
services ranging from registration and license to general services that ease
the process of setting up a business within the complex. This One step shop
‘strategy allows member companies to complete the employees affairs procedures,
renewal and traffic affairs through the DMCC itself.

Ease of business:

·Unique world wide centre industry clustering

·Purpose built infrastructure

·World class security system

·Single window clearance

·Preferential service rates

·Regulated environment

Commercial incentives

·Free hold commercial property

Market infrastructure

Gold and precious
metals-Much of the world demand for gold emanates from the
south Asia and the East Asian countries. Dubai with its
excellent facilities , further east and beyond. DMCC plan s to
strength Dubai position as the regional centre for the billion. and
precious stones business by offering improved facilities to enterprises
establishment themselves under the center’s auspices.

These facilities
include :

* The Dubai gold
nad commodities exchange, an electronic platform for the
trading

Of
gold and other commodities.

·Secure valet facilities

·Purpose built gold refineries

·Jewelry and gemplex-workshop facilities for
manufacture of gold jewelry, with accompanying staff accommodation on site

·Office space for whole sellers, traders and
bankers

·Assay facilities

·Introduction of code of conduct for
supervision of billion enterprises to insure that they abide by the highest
international standards

Diamond and color
stones

The infrastructure of
DMCC will accommodate every facet of the diamond business including
manufacturing, trading, education, certification and technology. alliance with
other members of trade, including finance organization and government
institution, will promote complete growth of industry .facilities for diamonds
and colored stones sectors include:

·Gem laborites to insure quality and
certification

·The best educational institution to make the
latest in technology and process available to the local and regional market

·Implementation of the Kimberly process
certification scheme, which is an innovative, voluntary system that
impose extensive requirements on participants to certify that shipment of rough
diamonds are free from diamonds that are used by rebel movements of finance
wars against legitimate governments .the Kimberly process is composed of 43
participants, including the European community. Kimberly process participants
account for approximately 99.8%of the global production of rough
diamonds.

Dubaidiamond exchange

The Dubai diamond
exchange (DDE) has been established to capitalize on the rapidly growing trade
flow of diamonds through the Middle East and beyond .with the primary
objective to promote regional trade with global accessibility, DDE will open
the door to tremendous opportunities for local, original and international
diamond traders. The Dubai diamond exchange is member of the world
federation of diamond bourses

Commodities

Dubai has become the
first dedicated commodities centre in the time zone between in the Europe and
Far East .Located at the cross roads of the trade flows between the Arabian
pensiula, Iran, India and Africa, Dubai has been regional commodity –trading
centre through out its history, that tradition is today reinforce by the
Dubai’s outstanding port facilities and its emerging status as modern financial
centre

Not only will
the Dubai base supply the local market, It will act as the
trans-shipment and staging point for Middle East and beyond

Through the
development of the industry specific market infrastructure DMCC will increase
the value and volume of trading commodities it and through Dubai .the DMCC is
building on these natural strength to reinforce Dubai’s position as regional
hub for the

Trading of commodities
.in fulfilling its mandate, DMCC is developing value-added products and service
in line with the needs of the products and services in line with the needs of
the growing market and its participants, both direct and indirect .this include
commodity trading companies, raw materials processors, logistic providers,
storage warehousing firm and banks current initiatives focus on the commodities
sectors included:

The Dubai commodity
recipient DMCC has created an innovative and exciting product to facilitate the
growth of commodity trade finance and risk management .-The Dubai commodity
receipt (DRC)

DRCs are negotiable
warehouse receipts that improve the financing of the commodity trade and combat
fraud. The DCr system is a mechanism of the creation of warehouse receipts for
good stored in Dubai, but also a facility within which these receipts can
be transferred among members of the system and used to obtain finance from
financier member. these transactions are made on an electronic, web-based that
ensure efficiency, speed and security.

TheDubaiTea Training.

The Dubai tea training
centre (DTTC) is a dedicated facility in Dubai at which international tea
products and merchants can hold stocks of tea that will be readily available to
meet the immediate requirements of importers in the middle east and
adjacent regions .enabling availability of variety of teas from
multiple origins, DTTC will offer convenience to tea
purchaser, whilst promoting the interest s of exporters

Potential DTTC members
will include tea producers, exporters, regional importers and international
merchants. Initially DTTC will be located at an exiting warehouse facility in
the free zone within the first two years of the operation .The planned new centre
has already won the enthusiastic support of tea industry participants from
three of the world’s leading tea exporters –India, Sri lank a and East Africa.

The Dubai Gold
& Commodities Exchange

The Dubai Gold &
commodity exchange (DGCX) is a joint venture between the DMCC, multi
commodity exchange of India Ltd (MCX) and financial technologies (India )
limited (FTIL) .The exchange has been developed to Facilitate the
trade of gold and commodities.

The transaction of the
DGCX will take place on a state-of- the-art electronic trading
platform will be deployed by FTIL.

The first contract
listed on the exchange will be gold .Expectation are for the balanced port
folio with the futures and option contracts available for all listed
commodities .gold will likely be followed by silver, steal, freight, cotton,
and energy contracts.

Energy

As the scope of the
DMCC covered a broad spectrum of commodities it is a natural
choice for the energy industry in Dubai. The centre will create
a cluster for industry facilitating market participants across the entire
energy spectrum including : exploration and production ;oil and chemical gas
and power ;renewable logistic and freight ;industry –specific service providers
e.g oil field service and suppliers, consultants, information, technology
suppliers human resources suppliers, media and advertising .

Activities Allowed by
the Free Zone

Manufacturing, Trading
and services.

Physical
infrastructure

Commercial towers

Available on the Free
hold and/or lease basis, these towers are made available to DMMCC registered
free zone company only. All construction will be completed by end 2008

Almastowers

Almas means
“diamond: in Arabic .towering 64 floors high, this prestigious, land mark
building will be home to the regional and international diamond communities.

High security shared
vaulting facilities , enhanced natural lighting and reinforced infrastructure
designed to hold heavy safe are just some of the unique benefits or residing in
the almas tower.

AU Tower

AU being the chemical composition
of gold, this tower is appropriately named .designed for the gold, precious
metals and jewelry market participants, The entire towers is themed to reflect
its name .The gold leaf shaped floor plans allow for spacious and flexible
office planning.

ElafTower

The Elaf tower is
designed specifically for the commodities trade Elaf is an Arabic word that
literally translates as á journey for the purpose of exchanging commodities:

Jewelry and Gemplex

The purpose built
jewelry and gemplex houses workshops , staff accommodation and offices for
service and trading .the complex will also offer Unique facilities for jewelry
, diamonds and color stones.

Each building is
ground plus 12 floors and located in close proximity to the refineries and DMCC
commercial towers within the same development.

Work shop- the work
shops can be purchased in any number , up to a maximum of ten per floor . Each
work shop is 50 square meters in size (538 square feet).Each work
shop is equipped with the access to central air- conditioning , extraction
systems, acid disposal, gas, electricity and water supply .

Located on twelfth
floor of each building, the studio apartment are ideal for senior staff
accommodation. Each apartments is 59 square meter in size and suitable for one
or two residents.

Staff Sponsor ship

Companies are required
to submit their applications to DMCC administration department, who in turn
will process them for the company.

Types of Trade license
available and fees per annum

Business Avenue

License type

Trading /commercial

License

Service license

Annual fee

8,000

15,000

Annual fee (US$)

2,177

4,083

Commercial towers

License Type

Trading /commercial

Service

Annual Fee (Dhs)

15,000

15,000

Annual Fee (US$)

4,083

4,083

Jewelry and Gemplex

License Type

Trading/commercial
license

Manufacturing
license

Units

1-30

1-30

Area

50sq m-1,500sq m

50 sq m-1,500 sq m

Annual Fee

15,0000-25,000

8,000-25,000

Annual Fee

4,083-6,805

2,177-6,805

Refining

Units

Any

Area

Any

Annual fee(Dhs)

25,000

Annual Fee (US$)

6,805

Establishing a DMCC
Free Zone Company

Setting up a company
in DMCC is simple and the procedure are streamlined, quick and hassle free. The
quality for establishing a branch of an already established company , You
merely need to either have a company already registered in the UAE
overseas-including the offshore companies

If You are new
company, you could register a legal entity or company in the DMCC- called a
DMCC company .

By a applying and
completing some simple but essential documentation, a sap rate legal entity
called a DMCC –called a DMCC company .

By applying
and completing some simple but essential documents called a DMCC
company with limited liability can be formed with its head quarter s in DMCC .
its affairs are completely separate from those of its shareholders . it can
have its own board of directors and its own bank A/C

Having a DMCC company
has many inherent benefits. For instance. Since it is independent of its
shareholders (individual or non-individual). It can retain its
profits .This play an important role in international business planning.

The following
Documents must be submitted along with an application from before a certificate
of registration can be issued. Where indicated, they will have to be notarized
and attested DMCC reserved the right to request additional attestation of
documents from the UAE embassy or any consulate or embassy where necessary
.DMCC also reserves the right to request any additional documents

Board resolution of
the non- individual calling for the establishment of
the company in DMCC

Manager –specimen of
signature +passport copy

Director-

Specimen of
signature + passport copy

Secretary –

Specimen of
signature +passport copy

Requirements

Notarized

Notarized

Notarized

Notarized

Notarized

Notarized

Notarized

Documents required in
order to appoint a legal representative

No.

1.

2.

3.

4.

Documents

Appointment of
negotiator or legal representative (specimen provided)

Power of attorney

(if not part of
resolution)

(Specimen provided)

Specimen of
signature

Valid passport copy

Requirements

Notarized

Notarized

Notarized

Copy

1.upon the confirmation
of the DMCC;s provisional approval on registration ;the applicant will be
issued with a letter addressed to the bank to open a bank account .

2.Applicant must deposit
the minimum capital Dhs 200,000

3.Upon confirmation of
the same DMCC will issued a certificate of the registration for the
new company

Check list of the
legal documents required for branch company registration

The following
documents are required along with an application from before the registration
certificate and license can be issued . As indicated , they will have to be notarized and attested

No.

1.

2.

3.

4.

5.

6.

7.

8.

Document

Certificate of
registration or incorporation of the mother company

Original certificate
of good standing of the company

Memorandum and
articles of the association of the mother company

1)A company board resolution calling for the
establishment of a branch in DMCC and guaranteeing full financial
commitment

2)Appointment of Negotiator or
legal Representative & manager (if not part of resolution)

Specimen provided)

3)Power of attorney

4)Specimen of the signature

(the manager )

5)Passport copy (the manager )

Requirements

Notarized + Attested

Notarized + attested

Notarized + attested

Notarized + attested

Notarized + attested

Types of companies
legally allowed in the Zone

DMCC Company and
branch of an existing company

Application process

·Submit application for registration(for new
company registration only ) and the application for the license 9for both new
company and branch registration)

·Submit all supporting Documents as outlined in
the application form, including a letter of internet (LOL) to purchase or lease
DMCC premises upon their completion.

·Submit application fee

·After provisional approval from DMCC , open
a Dubai based bank, account and enter into a lease agreement( in the
interim- unit DMCC, facilities are completed –You are fee to choose any
location in Dubai )

·Deposit the working capital at the
bank

·Submit the copy of the lease
agreement and a letter from the bank, confirming receipt of working
capital, to DMCC